Braidwell LP Has $65.57 Million Stock Holdings in Inspire Medical Systems, Inc. $INSP

Key Points

• Braidwell LP increased its stake in Inspire Medical Systems by 69.2% in Q3 to 883,747 shares (about $65.57 million), representing roughly 3.04% of the company and the fund's 15th largest holding.
• Inspire posted a strong quarter, reporting $1.65 EPS versus $0.69 expected and revenue of $269.08 million (up 12.2% year-over-year) with a net margin of 15.95%.
• Analysts carry an average rating of "Hold" with a consensus price target of $104.24 (five Buys, thirteen Holds, one Sell), while the stock has a market cap of about $1.68 billion.

Braidwell LP lifted its holdings in Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 69.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 883,747 shares of the company's stock after buying an additional 361,337 shares during the quarter. Inspire Medical Systems comprises 1.9% of Braidwell LP's portfolio, making the stock its 15th biggest holding. Braidwell LP owned about 3.04% of Inspire Medical Systems worth $65,574,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in INSP. Manning & Napier Advisors LLC acquired a new stake in Inspire Medical Systems in the 3rd quarter valued at about $32,000. Daiwa Securities Group Inc. raised its stake in shares of Inspire Medical Systems by 38.7% in the second quarter. Daiwa Securities Group Inc. now owns 466 shares of the company's stock worth $60,000 after acquiring an additional 130 shares during the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Inspire Medical Systems during the third quarter worth approximately $49,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Inspire Medical Systems during the third quarter worth approximately $72,000. Finally, FORA Capital LLC bought a new stake in shares of Inspire Medical Systems during the second quarter valued at approximately $220,000. Institutional investors and hedge funds own 94.91% of the company's stock.

Inspire Medical Systems Stock Performance

Shares of Inspire Medical Systems stock opened at $58.64 on Friday. The firm has a fifty day moving average of $73.86 and a two-hundred day moving average of $86.01. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of 11.77, a PEG ratio of 2.90 and a beta of 0.74. Inspire Medical Systems, Inc. has a 52 week low of $53.11 and a 52 week high of $172.95.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last posted its quarterly earnings results on Wednesday, February 11th. The company reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.96. Inspire Medical Systems had a return on equity of 10.96% and a net margin of 15.95%.The business had revenue of $269.08 million for the quarter, compared to analyst estimates of $264.02 million. During the same period last year, the company earned $1.15 EPS. The firm's revenue was up 12.2% on a year-over-year basis. As a group, research analysts forecast that Inspire Medical Systems, Inc. will post 2.16 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Oppenheimer lowered shares of Inspire Medical Systems from an "outperform" rating to a "market perform" rating in a report on Thursday, January 22nd. Robert W. Baird set a $74.00 price objective on Inspire Medical Systems and gave the stock a "neutral" rating in a report on Thursday, February 12th. Jefferies Financial Group decreased their price objective on Inspire Medical Systems from $81.00 to $66.00 and set a "hold" rating on the stock in a research report on Thursday, February 12th. Stifel Nicolaus lowered their target price on Inspire Medical Systems from $95.00 to $85.00 and set a "buy" rating for the company in a research note on Thursday, March 5th. Finally, UBS Group set a $67.00 target price on Inspire Medical Systems in a research report on Friday, February 13th. Five analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Inspire Medical Systems currently has an average rating of "Hold" and a consensus target price of $104.24.

Inspire Medical Systems Company Profile

Inspire Medical Systems, Inc is a medical technology company specializing in implantable neurostimulation devices for the treatment of obstructive sleep apnea (OSA). The company's flagship offering, the Inspire® system, delivers targeted stimulation of the hypoglossal nerve to maintain airway patency during sleep, providing an alternative therapy for patients who are intolerant of or inadequately managed by continuous positive airway pressure (CPAP) devices.

The Inspire system comprises an implantable pulse generator, a sensing lead that monitors breathing patterns, and a stimulation lead that activates the hypoglossal nerve.

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